Marin Software has introduced a new tool that the company says is unique in the industry. It’s called “Multi-Conversion Tracker.”

It enables search marketers to define various kinds of actions or “conversions” (e.g., newsletter sign up, e-commerce transactions, e-mail capture, etc.). That process then enables SEMs to determine the relative performance of keywords and ad copy in terms of those defined conversions. They can then refine and fine tune their keyword bids accordingly.

Here’s how the company explains various use cases:

The new feature, now available to all Marin Software users, lets marketers define and measure their own conversion metrics. For example, an e-commerce marketer may want to separately track store locator visits, newsletter registrations, or purchases from different product categories. Lead generation/performance marketers can value conversions from different clients separately, and bid on the total bounties received. For the first time, marketers can get an accurate view of which keywords lead to which types of conversion events.

While SEM has had trouble tracking “conversions” beyond fairly high level metrics, historically, this tool allows for new levels of bidding precision by expanding the range of actions that can be measured and factored into the bidding calculus.

About The Author

Greg Sterling is a Contributing Editor at Search Engine Land. He writes a personal blog, Screenwerk, about connecting the dots between digital media and real-world consumer behavior. He is also VP of Strategy and Insights for the Local Search Association. Follow him on Twitter or find him at Google+.